INTERNATIONAL: Ogilvy buys Feinstein in biotech expansion

NEW YORK: Ogilvy PR Worldwide has continued its acquisition spree, buying Massachusetts-based Feinstein Kean Partners - a healthcare and biotech agency with annual fees in excess of pounds 5 million.

NEW YORK: Ogilvy PR Worldwide has continued its acquisition spree,

buying Massachusetts-based Feinstein Kean Partners - a healthcare and

biotech agency with annual fees in excess of pounds 5 million.



Although financial details were not officially disclosed, the deal is

understood to include between pounds 7 million and pounds 9 million in

cash and/or WPP stock changing hands. The deal follows Ogilvy’s purchase

of pounds 7.5 million Hollywood entertainment shop Baker Winokur Ryder

PR last month (PR Week, 29 October).



Feinstein Kean Partners, which is changing its name to Feinstein Kean

Healthcare (FKH), and consulting unit Kendall Strategies will maintain

their own brands.



’Feinstein Kean gives us a great opportunity to expand our work in the

healthcare arena into biotech,’ said Ogilvy CEO Bob Seltzer. He added

that the move provides FKH with the opportunity to add services such as

public affairs support, which he said is important for issues-driven

biotech clients.



FKH founder and CEO Peter Feinstein added that the deal, which had been

discussed over a six-month period, provides his agency with the global

reach that he believes is necessary to keep up with the pace of the

healthcare industry.



With combined US healthcare income of pounds 16.4 million, the newly

merged firm would merit second place in the PR Week, US healthcare

practice rankings.



No layoffs are expected as a result of the merger. Although Seltzer has

said he would like FKH’s Massachusetts office and Ogilvy’s Boston office

to be housed under one roof, no time frame has been set for such a move.



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